Jewellery case study: ₹1L to ₹1.7L monthly revenue in 5 months
Case study
Month by month
Revenue by month
| Month | Phase | Ad spend | Revenue | ROAS | Purchases | Cost per purchase |
|---|---|---|---|---|---|---|
| Start | – | – | ₹1L | – | – | – |
| Month 1 | Learning | ₹50,833 | ₹1,00,116 | 1.97x | 51 | ₹997 |
| Month 2 | Scaling | ₹67,957 | ₹1,34,364 | 1.98x | 68 | ₹999 |
| Month 3 | Scaling | ₹76,981 | ₹1,49,109 | 1.94x | 73 | ₹1,055 |
| Month 4 | Steady | ₹87,591 | ₹1,67,085 | 1.91x | 85 | ₹1,030 |
| Month 5 | Steady | ₹84,885 | ₹1,68,400 | 1.98x | 86 | ₹987 |
| Total | ₹3,68,247 | ₹7,19,074 | 1.95x | 363 | ₹1,014 |
Funnel
Funnel, first view to purchase month 5
- Impressions6,63,641
- Link clicks11,3331.71% of impressions
- Landing-page views8,45474.6% of link clicks1.274% of impressions
- Added to cart7538.91% of landing-page views0.113% of impressions
- Checkout started23531.21% of added to cart0.035% of impressions
- Purchases8636.6% of checkout started0.013% of impressions
0.013% of impressions became purchases
Mix
Where the budget goes month 5
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| ₹61,887 | 72.9% | 63 | 1.98x | ₹982 | |
| ₹21,753 | 25.6% | 22 | 2.00x | ₹989 | |
| Audience Network | ₹1,245 | 1.5% | 1 | 2.03x | ₹1,245 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Instagram Reels | ₹24,918 | 29.4% | 25 | 1.99x | ₹997 |
| Instagram Feed | ₹23,566 | 27.8% | 25 | 2.04x | ₹943 |
| Instagram Stories | ₹13,403 | 15.8% | 13 | 1.85x | ₹1,031 |
| Facebook Feed | ₹12,941 | 15.2% | 13 | 1.95x | ₹995 |
| Facebook Reels | ₹7,640 | 9.0% | 8 | 2.07x | ₹955 |
| Audience Network | ₹1,245 | 1.5% | 1 | 2.03x | ₹1,245 |
| Facebook Stories | ₹1,172 | 1.4% | 1 | 2.03x | ₹1,172 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Prospecting (cold audiences) | ₹71,643 | 84.4% | 72 | 1.98x | ₹995 |
| Retargeting (warm audiences) | ₹8,120 | 9.6% | 9 | 2.06x | ₹902 |
| Lookalike audiences | ₹3,008 | 3.5% | 3 | 1.93x | ₹1,003 |
| Advantage+ shopping | ₹2,114 | 2.5% | 2 | 1.99x | ₹1,057 |
Creatives
Creative mix month 5
New ads per month
| Creative type | Tier | Ad spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Catalogue (dynamic product ads) | Moderate | ₹17,878 | 19 | 2.07x | ₹941 |
| Video | Moderate | ₹43,211 | 44 | 2.00x | ₹982 |
| Static image | Moderate | ₹17,823 | 18 | 1.92x | ₹990 |
| UGC / creator video | Moderate | ₹3,217 | 3 | 1.90x | ₹1,072 |
| Carousel | Watchlist | ₹2,756 | 2 | 1.68x | ₹1,378 |
How we run it
How we run it, why, and how it works
Research & offer Month 1
What we do
We set up the base for a smaller jewellery store before any budget rises. We put the website audit, the creative brief and the monthly media schedule in place before spend moves. We audit the competitors buyers are already comparing, and agree the case study before spending.
Why
In this case study, a smaller jewellery brand grows monthly revenue in 5 months, from ₹1L to ₹5L (5x). That pace is within what the fastest tenth of our measured accounts reached over the same time. The brand in this scenario named no single problem, so the case study starts from the numbers. A written brief gives every later budget decision a reference point. The audit positions the brand in this scenario against the alternatives buyers are weighing.
How it works
The brief is agreed first; spend follows it. The audit sets the creative and site work for the first weeks.
Measurement & reviews Month 1 to 5
What we do
We set the path from ₹1L to ₹5L as written monthly numbers, and read every review against the month so far. We track ad-platform revenue beside store orders in a shared daily sheet. We raise budget in a month only while return holds; where it slips too far, we hold it.
Why
With no return on ad spend reported, the case study begins at the level measured jewellery stores of that size hold. Written monthly numbers expose a slow month while there is still time to act. Platform attribution over-counts, so budget decisions sit on the store-side number.
How it works
The month's number is on the page at every review. Every budget call starts from the store's orders. A month whose return slips past that point keeps its budget instead.
Creative testing Month 1
What we do
We test with video, catalogue ads and carousel first, rising to about two dozen new ads a month by the final month, keeping carousel on a short leash because its return trails the account. The learning month runs on a small daily budget, stepping up only once orders confirm. We show the piece: product-only singles and carousels, swapped the moment they stop converting. We make trust the subject of the video: creator reels, customer feedback and founder-led clips.
Why
The first rupees are for finding the buyer, not for volume. Jewellery buyers decide on the piece, and fatigue sets in fast. In most accounts we measured, video that carried trust held its return.
How it works
The low budget stays until orders confirm the buyer. Creatives are rotated on conversion, not on a calendar. UGC that underperforms is replaced by founder-led video, not given more budget. More spend buys more new ads, led by video ahead of catalogue ads.
Scaling Month 2 to 3
What we do
Through Month 2 to Month 3, we push toward ₹5L: the budget rises gently while return holds, and Instagram Reels carries the most spend and Instagram Feed the next. We let return decide budget: more while it holds, less when it slips. We recover abandoned checkouts with WhatsApp messages as traffic grows.
Why
In Month 2 to Month 3 the budget rises gently, while return on spend holds. In one of these months the step is trimmed to the size return can hold. Return holds through these months because each budget step stops where return starts to slip. WhatsApp is cheaper than paid retargeting for buyers who already reached checkout.
How it works
Each month's budget is set by the return the last one earned. WhatsApp recovery runs alongside paid retargeting, not instead of it. In the final month, Instagram Reels takes the most spend and Instagram Feed the next most. Prospecting to new buyers takes the bulk of spend, while retargeting returns more for each rupee.
Steady state Month 4 to 5
What we do
From Month 4, we protect the revenue already built and move toward ₹5L where return permits. We recover abandoned checkouts and lift repeat orders with WhatsApp messages. We refresh tired ads by mixing old and new creatives, and keep a creative bank.
Why
From Month 4 growth slows while revenue is still under ₹5L. Spend still grows, at a slower pace than during scaling. WhatsApp is cheaper than paid retargeting for buyers who already reached checkout. In one account we measured, click-through fell before revenue did; refresh is how that is avoided.
How it works
WhatsApp runs alongside paid retargeting, not instead of it. Refreshes are gradual: a few new ads at a time.
Milestones
Milestones by month
- Month 1
The learning phase opens: a small daily budget carries the first ads, and store orders are matched to tracking. Store orders and platform revenue are reconciled in the shared sheet. The audit, brief and media schedule are agreed with the brand's team.
- Revenue ₹1L
- ROAS 1.97x
- Ad spend ₹50,833
- Month 2
Scaling starts: product-only creatives that stop converting are swapped. Return on spend holds while budget steps up.
- Revenue ₹1.3L
- ROAS 1.98x
- Ad spend ₹67,957
- Month 3
Ads with falling click-through are swapped from the bank. Budget goes up only as far as return can carry it: return on spend holds while budget steps up.
- Revenue ₹1.5L
- ROAS 1.94x
- Ad spend ₹76,981
- Month 4
Steady phase begins: creative refresh and repeat orders take on more of the work.
- Revenue ₹1.7L
- ROAS 1.91x
- Ad spend ₹87,591
- Month 5
Budget is reviewed against return before the next step. Budget goes up only as far as return can carry it: return on spend holds while budget holds. The case study finishes short of ₹5L: budget stops rising where return starts to slip. Cost per purchase ends close to the learning phase.
- Revenue ₹1.7L
- ROAS 1.98x
- Ad spend ₹84,885
Learnings
Learnings from Jewellery brands we measured
Scaling spend raised cost per order and lowered return on spend.
Audit competitors and agree a three-month case study before spending.
Instagram Reels carries the largest share of spend in this industry's measured accounts.
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